As the EUR enters a period of relief from the major bearish trend, Morgan Stanley has turned tactically bullish on the single currency attempting to buy EUR/USD on dips for more than a week. In a note to clients today, MS outlines the case for this ongoing EUR rally projecting its potential target in the near-term along with its year-end target for the pair. 1- "Strong investment outflows from the eurozone since the beginning of the year, and the use of EUR as a global funding currency, not just for portfolio investment but also for longerterm business investment, were major contributing factors to the EUR’s steep ... (full story)